It goes without saying that Black Friday is a shopping season of truly epic proportions. A hectic shopping season plus an ocean of competition means that online sellers will need every advantage they can get in order to maximise their sales during this time.
A study by Google saw more than 50% of surveyed shoppers plan to buy gifts when they are on sale. While 36% of surveyed shoppers bought from alternative brands due to better prices.
What’s more, consumers in Singapore are more likely to shop during Black Friday and Cyber Monday as compared to the 11.11 event. And buyers aged 25 to 34, working professionals with tangible disposable income, are the demographic most likely to shop during the sale period.
So, the question is, how can sellers maximise this opportunity?
Make Sure Your Inventory is Sufficient
Because Black Friday is such a high-volume shopping period for consumers, you’ll need to make sure that the inventory for your online store is sufficient to meet demand – or at least as large as you can reasonably make it. Anything less would mean sacrificing potential sales and profits.
Understand Your Customers’ Mindset
Speaking of communicating with your buyers, it’s also crucial for you as a seller to understand your customers’ mindset at this time. This isn’t just a regular shopping day, this is Black Friday: Traditionally an extremely busy and hectic time for retailers and sellers everywhere.
Black Friday marks the start of the holiday season, which means that buyers expect special deals, promos, offers, discounts, free delivery and seasonal specific products. Incidentally, delivery options, availability and ratings are major drivers of buying behaviour during this period.
Become a One-Stop Shop to Improve Conversions
One tangible way that you can provide good service and improve customer convenience is to become a one-stop-shop for buyers – that is, organise relevant and related products into bundles that customers can buy to get everything they need at once. Bundle deals and mystery boxes provide not only an element of surprise that can delight customers, but can also be marketed as a way for them to maximise value for their money. Adding extra perks such as having the option to purchase as a gift makes this offering even better.
Offer Something Relevant Yet Unique
With so many competitors in the e-commerce marketplace, it may be difficult to drive customers to your own online store. One way you can stand out from the competition is by offering something relevant yet unique. Donate a portion of your earnings to charity, utilise environmentally materials, offer flash deals, online exclusives, loyalty programs and more.
Use Far-Reaching Marketing and Promotional Channels
Ensuring sufficient inventory, understanding and meeting your customers’ needs at this time, and offering a unique promo mechanic are all good tactics to make the most of Black Friday – but all of these won’t mean much if potential buyers can’t find your products online.
Listing your items on an effective e-commerce platform can help you reach customers quickly and effectively. Consider Carousell, a highly optimised e-commerce marketplace that provides seller tools designed to improve visibility and increase sales.
Carousell Bump, Spotlight, and Profile Promotion all serve to make your listings more visible, for longer. These advantages are more crucial than ever during a time of high sales potential but also rampant competition, such as Black Friday.
Enjoyed our Black Friday e-commerce guide? Check out our industry insights, if you’d like to learn additional tips for selling effectively online, or about the benefits of e-commerce in general.